Industrials REIT Ltd - London-based real estate investment trust investing in UK multi-let industrial properties - Sells its interest in a German care home joint venture for GBP15.6 million. This deal completes Industrials REIT's transition to become a 100% UK multi-let industrial business. Says it will use the proceeds to fund further acquisitions in the UK.
"The sale of our German care home interest is a significant milestone, being the final non MLI investment remaining in our portfolio. It means we are fully focused on our UK MLI business following a GBP600 million plus five-year disposal programme. Our goal now is to continue scaling our UK MLI platform," Industrials REIT Chief Executive Paul Arenson says.
Current stock price in Johannesburg: ZAR36.18, down 0.6% on Wednesday
12-month change: down 5.4%
Current stock price in London: 162 pence, down 0.3%
12-month change: down 17%
By Artwell Dlamini, Alliance News reporter
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